WalletConnect releases report, global cryptocurrency regulation enters implementation phase

WalletConnect has released a report titled 'Policy, Compliance, and Regulatory Status', pointing out that global cryptocurrency regulation has shifted from discussion to implementation, but cross-border rules are fragmented. The EU MiCA Act will be fully applicable in December 2024, and the national transition period will end on July 1, 2026. At present, there are approximately 330 authorized cryptocurrency service providers in the ESMA temporary register, and over 1000 pre MiCA enterprises have failed to obtain authorization by the deadline.